Intact Investment Management Inc. Has $15.55 Million Holdings in AT&T Inc. (NYSE:T)

Intact Investment Management Inc. cut its position in AT&T Inc. (NYSE:T) by 0.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 926,900 shares of the technology company’s stock after selling 1,700 shares during the quarter. Intact Investment Management Inc.’s holdings in AT&T were worth $15,553,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after buying an additional 606 shares during the period. JB Capital LLC increased its position in shares of AT&T by 2.4% in the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock worth $447,000 after purchasing an additional 614 shares during the last quarter. Schubert & Co increased its position in shares of AT&T by 2.0% in the third quarter. Schubert & Co now owns 32,333 shares of the technology company’s stock worth $486,000 after purchasing an additional 631 shares during the last quarter. MBM Wealth Consultants LLC increased its position in shares of AT&T by 4.5% in the fourth quarter. MBM Wealth Consultants LLC now owns 15,637 shares of the technology company’s stock worth $270,000 after purchasing an additional 678 shares during the last quarter. Finally, Wealthstar Advisors LLC increased its position in shares of AT&T by 5.9% in the fourth quarter. Wealthstar Advisors LLC now owns 12,566 shares of the technology company’s stock worth $211,000 after purchasing an additional 700 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup upped their price objective on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Royal Bank of Canada restated a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Tuesday, March 5th. Tigress Financial upped their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, Barclays upped their price objective on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Trading Up 1.0 %

Shares of NYSE:T traded up $0.17 during trading on Friday, reaching $16.75. 37,852,681 shares of the company traded hands, compared to its average volume of 39,190,348. The firm has a market capitalization of $119.81 billion, a price-to-earnings ratio of 9.01, a P/E/G ratio of 2.50 and a beta of 0.57. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.16. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 1.06. The business’s fifty day moving average is $16.96 and its 200-day moving average is $16.56.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, analysts forecast that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.